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Level 1
June 4, 2019
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Is the $75,000 that I received from my sister who died and her will directed a $25,000 distribution to each of her three brothers, two of them died, federally taxable?

  • June 4, 2019
  • 1 reply
  • 13 views
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Best answer by TomD8

Cash inheritances are not subject to federal income tax.  (There may be income tax issues with inheritance of retirement accounts or non-cash assets.)

1 reply

TomD8Alumni - ChampAnswer
Alumni - Champ
June 4, 2019

Cash inheritances are not subject to federal income tax.  (There may be income tax issues with inheritance of retirement accounts or non-cash assets.)

**Answers are correct to the best of my ability but do not constitute tax or legal advice.